Safe and Sound

NYMEO

FREDERICK, MD
5
Star Rating
Founded in 1964, NYMEO is an NCUA-insured credit union based in FREDERICK, MD. As of June 30, 2017, the credit union held assets of $266.8 million.

Thanks to the work of 81 full-time employees, the credit union has amassed loans and leases worth $170.5 million. NYMEO's 23,247 members currently have $231.2 million in shares with the credit union.

Overall, Bankrate believes that, as of June 30, 2017, NYMEO exhibited a superior condition, earning a full 5 stars for safety and soundness. Here's an analysis of how the credit union did on the three important criteria Bankrate used to grade American credit unions on safety and soundness.

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SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

Capital is an important measurement of a credit union's financial strength. It acts as a buffer against losses and affords protection for members when a credit union is struggling financially. When looking at safety and soundness, more capital is preferred.

NYMEO finished below the national average of 15.26 on our test to measure the adequacy of a credit union's capital, scoring 12 out of a possible 30 points.

NYMEO's capitalization ratio of 10.00 percent in our test was below the average for all credit unions, a sign that it could be less resilient in a crisis than its peers.

Asset Quality Score

This test's purpose is to try to understand how the credit union's capitalization and allocated loan loss reserves could be affected by troubled assets, such as unpaid mortgages.

Having a large number of these kinds of assets suggests a credit union may eventually have to use capital to cover losses, diminishing its buffer of equity. Many of those assets are also likely to be in non-accrual status and no longer earning money, resulting in depressed earnings and potentially more risk of a failure in the future.

NYMEO exceeded the national average of 38.15 on Bankrate's asset quality test, racking up 40 out of a possible 40 points .

NYMEO's ratio of troubled assets was 7.00 percent in our test, the same as the national average.

Earnings score

A credit union's profitability has an effect on its safety and soundness. A credit union can retain its earnings, boosting its capital cushion, or put them to work addressing problematic loans, likely making the credit union more resilient in times of trouble. However, credit unions that are losing money have less ability to do those things.

NYMEO exceeded the national average on Bankrate's test of earnings, achieving a score of 18 out of a possible 30.

One sign that the credit union is doing better than its peers in this area was its earnings ratio of 10.00 percent in our test, better than the average for all credit unions.








WHAT IS SAFE & SOUND?

Bankrate.com's Safe & Sound Ratings provide a star rating system to evaluate the current financial status of financial institutions. The information gathered about banks, credit unions and thrifts is updated as set forth in the Terms of Use of Safe & Sound Ratings and Reports. The Safe & Sound Ratings information is grouped by categories of banks, thrifts and credit unions.

Scoring methodology

Bankrate.com evaluates the financial condition of institutions and assigns a one- to five-star rating for each with five stars representing the highest rating. Institutions with satisfactory performance will generally receive a rating of three or more stars. The majority of institutions fall into the three- to four-star range. An institution with an "NR" rating may be too new to rate or may have limited the publicly available information in their regulatory filings. The "NR" is not an indication of financial strength or weakness. The Safe & Sound rating is believed to be reliable, but the information is not guaranteed. In addition, events since the information was collected may have altered the institution's financial condition.